Bahamas media is reporting that Sam Bankman-Fried has made a new offer for bail just two days after the decision denied his previous application and cited the FTX founder as a flight risk.

Sam Bankman Fried, the captive founder of bankrupt cryptocurrency exchange FTX, has reportedly filed a new bail application within the Land High Court after his previous bail attempt was unsuccessful.

Local media on December 15 rumored that the founder had filed the application that was discovered before the court within about one month on January 17, 2023. But it did not cite any sources.

Previously, on December 13, Bankman-Fried’s attorneys pleaded not to be held on $250,000 bail because he had no previous convictions and was suffering from depression and a sleep disorder. The presiding judge denied bail to the cryptocurrency executive as a flight risk.

Bankman Fried has been locked up in Fox Hill Prison, the only prison inside the land. The 2021 U.S. State Department reported that the same conditions at Fox Hill were “extreme,” overcrowded with medical aid, sanitation, and poor nutrition. Corrections officers were alleged to be physically ill-treating detainees.

Extradition to the US is on the table because the Bahamas government has the same “express” method for any surrender request as the exchange’s founder faces eight counts of concealment, wire fraud and securities fraud.

A plethora of charges could land Bankman-Fried in prison for a hundred and fifteen years, but legal commentators told Cointelegraph that there is “a lot more to do,” saying that the case could take years to be resolved.

the post The SBF is reportedly filing a new bail application in the Bahamas Supreme Court It debuted in BTC wires.

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